Aust. market falls back

Press, 5 January 1979, Page 13

Aust. market falls back

Wednesday’s firm advance,] which elevated the Sydney] all ordinaries index by morel than four points, petered out! 'in mixed trading yesterday, j There was still reasonable. I support for miners, but lead-i ing industrial stocks suffered in the buying demand. ] Oil stocks, which led the I J market rise on Wednesday, I 'traded indifferently, and] 8.H.P., especially, suffered. I At close of trading B.H.P : lhad shed 18c to 914 c, Beach] 12c, and A.O.G. Ic. Bridge] ] added 2c, with the remainder. I trading steady. Speculative diamond shares fell back also except for Magnet which added 2c to 37c. The Ashton joint-venture ! partners were hit hardest by

j sellers with C.R.A. falling 113 c, Northern Mining 10c and Ashton 2c. Uraniums continued to be (well supported with EZ Industries adding 10c, Queensland Mines 5c and PekoWallsend 2c. Other mining leaders fared Swell with Western Mining] 1 firming 2c, M.I.M. 6c and iHamersley sc. Among the banks, the 1C.8.C. and the Bank of In.S.W. both rose 2c, but 'a.N.Z. and C.B.A. both shed ' 2c - Retailers were also firmer with David Jones and Woolworths up 2c each and Waltons up Ic, but Myers eased 1c to 174 c. Elsewhere, brewers were ahead while market leader] CSR eased 5c to 335 c.